Question 1

Which the following was not a feature of the New Industrial Policy 1991?

Accepted Answer

The New Industrial Policy of 1991 in India focused on liberalizing the economy by reducing government control over industries. It included measures such as the abolition of industrial licensing (to reduce red tape and make it easier to start or expand businesses), removal of restrictions on the MRTP (Monopolies and Restrictive Trade Practices) Act to encourage competition, and permitting foreign investment to integrate the Indian economy with the global market. However, it did not emphasize setting up new public sector enterprises; instead, it aimed at limiting the public sector to strategic areas and encouraging private sector participation in most areas.

Question 2

One of the policies adopted to make public sector more efficient was

Accepted Answer

Raising fresh equity from the market is a policy adopted to make public sector more efficient by providing them with additional capital to improve operations, innovate, and compete with private sector entities. This approach helps in reducing the financial burden on the government while aiming to enhance the performance and efficiency of public enterprises.

Question 3

Which of the following is an important banking sector reform introduced in 1991?

Accepted Answer

The introduction of prudential norms was a significant banking sector reform introduced in 1991, aimed at improving the financial health and stability of banks by ensuring they maintain adequate capital and follow risk management practices.

Question 4

Rashtriya Swasthya Bima Yojana provides health insurance coverage to

Accepted Answer

Rashtriya Swasthya Bima Yojana (RSBY) was specifically designed to provide health insurance coverage to workers in the unorganized sector and their families, aiming to protect them from financial liabilities arising out of health issues.

Question 5

Agriculture prices in India are

Accepted Answer

Agriculture prices in India are uncertain due to factors like unpredictable weather, fluctuating market demand, and changes in government policies.

Question 6

Agriculture price policy is required to

Accepted Answer

Agriculture price policy is required to provide incentives to farmers, encouraging them to produce more by ensuring they receive fair prices for their crops, which can help in stabilizing the agricultural sector's income and production levels.

Question 7

Minimum Support price guarantees the farmers with

Accepted Answer

Minimum Support Price (MSP) guarantees farmers a floor price for their produce, ensuring they receive a minimum income for their crops regardless of market fluctuations.

Question 8

Issue Price is at which the government supplies food grains

Accepted Answer

Issue Price is the price at which the government supplies food grains to ration shops, which then sell these to consumers at subsidized rates.

Question 9

Fair price shops protect the interest of

Accepted Answer

The answer of Fair price shops protect the interest of
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Question 10

Price policy mainly benefits

Accepted Answer

Price policy mainly benefits large farmers as they have the capacity to produce surplus and take advantage of favorable pricing, whereas small and marginal farmers often lack the resources to benefit significantly from such policies.

Question 11

The healthcare industry includes

Accepted Answer

The answer of The healthcare industry includes
...

Question 12

The FDI limit permitted for all health related services under automatic route is

Accepted Answer

The FDI limit permitted for all health related services under the automatic route is 100% (1 or 100%). This means foreign investors can invest up to 100% in the health sector without needing prior approval from the government.

Question 13

Which of the following is not a characteristic of the Indian health care industry?

Accepted Answer

The answer of Which of the following is not a...

Question 14

Which of the following is a growth potential in the healthcare industry in India?

Accepted Answer

The answer of Which of the following is a growth...

Question 15

Which of the following is not a feature of the tourism industry?

Accepted Answer

Tourism can have significant negative impacts on the natural environment, including pollution, habitat destruction, and strain on water and energy resources, contrary to the assertion in option C.

Question 16

In 2017 advances of commercial banks to the priority sector was

Accepted Answer

The answer of In 2017 advances of commercial banks to...

Question 17

Financial inclusion aims at providing financial services to

Accepted Answer

Financial inclusion is a strategy aimed at providing access to financial services to those who are typically underserved or excluded, such as poor people. This includes services like banking, loans, insurance, and savings.

Question 18

In recent years Indian banks have increased their efficiency by

Accepted Answer

Indian banks have significantly increased their efficiency through the use of information technology, which has streamlined operations, improved customer service, and enhanced the overall banking experience.

Question 19

In recent years the number of RRBs has

Accepted Answer

The number of Regional Rural Banks (RRBs) has decreased in recent years due to consolidation efforts aimed at strengthening the rural banking sector.

Question 20

Virtual banking aims at rendering banking services through

Accepted Answer

Virtual banking primarily utilizes information technology (IT) services to offer banking services, enabling transactions and services to be conducted online without the need for physical branch visits.

Quiz 1: Indian Economic Policies and Industries